London-listed airline giant IAG, owner of British Airways and Iberia, announced on Monday that it has agreed to buy Spain's Air Europa for 1.0 billion euros ($1.2 billion).IAG said in a statement that it has signed a transaction agreement with Air Europa owner Globalia in a deal which will cement Madrid as a major hub for the enlarged group and expand its routes to Latin America and the Caribbean.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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